The seminar will touch on questions such as the following:
- What challenges does a jurisdiction face in establishing itself as a forum for the resolution of cross-border insolvency disputes in the Asia Pacific? The Asia Pacific is a patchwork of common law and civil law jurisdictions. Some have more highly developed insolvency regimes, others less so. There are also significant linguistic, economic, social, cultural, and political differences among countries in the Asia Pacific. These characteristics make it difficult to establish a cross-border insolvency hub in the Asia Pacific. For example, insofar as it is increasingly recognised that mediation can play an important role in cross-border insolvency disputes, there are serious obstacles to the use of mediation for the same in the Asia Pacific. Some have suggested that the Singapore Convention may be of assistance in this respect, but that remains to be seen.
- How has the SICC sought to meet those challenges? In particular, in what way will the SICC’s new rules enable it to deal with cross-border insolvency related applications from the Asia Pacific more efficiently and effectively?
- What are Hong Kong’s prospects as a forum for resolving cross-border insolvency disputes in the Asia-Pacific? For instance, unlike Singapore, Hong Kong is not a full member of the Judicial Insolvency Network (JIN), but only a supporting jurisdiction. Nor has Hong Kong adopted the UNCITRAL Model Law on Cross-Border Insolvency. Hong Kong has instead largely developed its cross-border insolvency regime through case law. Are these obstacles to Hong Kong becoming a cross-border insolvency hub in the Asia Pacific? Does it matter whether or not Hong Kong develops into such a hub?
About the Speaker:
Anselmo Reyes practises as an arbitrator. He was Professor of Legal Practice at Hong Kong University from October 2012 to September 2018. Before that, he was a judge of the Hong Kong High Court from September 2003 to September 2012, when he was in charge of the Construction and Arbitration List (2004-8) and the Commercial and Admiralty Lists (2008-12). He was Representative of the Hague Conference on Private International Law’s Regional Office Asia Pacific from April 2013 to July 2017. He became an International Judge of the Singapore International Commercial Court in January 2015.
The Law Society of Hong Kong has awarded this seminar 1.5 Continuing Professional Development (CPD) points.